Test-3 Flashcards
——– is one of the category of WTO’s Agreement on Agriculture (AoA) which classifies domestic support or subsidies given by the government to farmers into different categories. It represents ——and is referred as the —– box.
Aggregate Measurement of Support (AMS)- trade distorting domestic support - Amber box.
The AMS means annual level of support (subsidies) expressed in monetary terms, provided for an agricultural product in favour of the producers (product specific) of the basic agricultural product and non-product specific support provided in favour of agricultural producers in general.
AMS has two components- —– and ——.
—– refers to the total level of support provided for each individual agricultural commodity. It is also the excess price paid to farmers over international price aka —-. For example wheat AMS is the subsidy given specifically to wheat.
——- refers to the total level of support given to the agricultural sector as a whole, i.e., subsidies on inputs such as fertilizers, electricity, irrigation, seeds, credit etc. Usually, these are given to — crops.
Product-specific subsidies and non-product specific subsidies- External reference price(ERP)- Product-specific subsidy-Non-product specific subsidy- ALL
Subsidy provided through price support in the case of a specific product like wheat is measured by taking the difference between the price given to the domestic producers during procurement (by the government)and a specified fixed external reference price (world market price set by the WTO) of that product. Multiplying this gap by the quantity of production eligible to receive the administered price gives the specific subsidy for that product. If domestic prices are lower than the world reference price, then AMS turns out to be negative for that particular product.
As per the WTO norms, the AMS can be given up to — of country’s —–in the case of developing countries. On the other hand, the limit is —- for a developed economy. The price level is based on —- prices. This limit is called —– of support.
10 % of a country’s agricultural GDP- 5% - 1986-88 prices-De minimus level
- —– - min trade distortion. Eg- —-. Have —- reduction commitments under AoA.
- —– - less trade distorting, —- the production. There are —- limits on these types of subsidies.
- —– - Trade distorting subsidies. —— principle applied.
Green Box- Direct income scheme- no.
Blue box- limits- no.
Amber box- De minimus
—— is an integrated traceability system developed by —— for providing Internet based electronic services to the stakeholders for facilitating farm registration, testing and certification of——- for export from India to the—— in compliance with standards.
This mobile app initiative is expected to increase the accessibility and reach of the Traceability software system among the farmers and other stakeholders.
This new Mobile app will also assist—— to capture real time details of farmers, farm location, products and details of inspections like date of inspection, name of inspecting directly from field.
Hortinet- APEDA- Grape, Pomegranate and Vegetables- European Union- State Horticulture/ Agriculture Department .
To harness the potential of mobile technology, APEDA has developed a mobile app to allow farmers to apply on-line to facilitate their farm registration, tracking the status of application & approvals by State Government and Lab sampling by authorized Laboratories.
APEDA- under — ministry- for—–.
APEDA- Agri and processed food products export development authority- apex body under Min of Commerce and industry- responsible for export promotion of agri products.
- Khadi and Village Industries Commission (KVIC) ——– under the ——- and engaged in promoting and developing Khadi and Village Industries (KVI) for providing employment opportunities in the rural areas, thereby strengthening the rural economy.
Statutory organization- Ministry of MSME
KVIC undertakes activities like skill improvement; transfer of technology; research and development; marketing etc. and helps in generating employment/self-employment opportunities in rural areas.
- —— receives the proceedings from disinvestment in PSUs.
- —- of the annual income of the Fund will be used to finance selected social sector schemes, which promote education, health and employment. The corpus is of —- and is managed professionally by —-. The residual —- of the annual income of the Fund will be used to meet the capital investment requirements of profitable and revivable CPSEs that yield adequate returns, in order to enlarge their capital base to finance expansion/ diversification
National Investment fund-75%- Permanent in nature- 3 Public sector fund managers- 25%
NIF is utilized on select social sector schemes, namely the Jawaharlal Nehru National Urban Renewal Mission (JNNURM), Accelerated Irrigation Benefits Programme (AIBP), Rajiv Gandhi GraminVidyutikaranYojana (RGGVY), Accelerated Power Development and Reform Programme, Indira AwasYojana and National Rural Employment Guarantee Scheme (NREGS).
Following are some of major sectors where 100% FDI is allowed.
1. ——-
10% of India’s GDP is based on construction activity. 100% FDI under —- is permitted in construction sector for cities and townships
2. ——
FDI in this sector was increased by 89% between April 2014 to February 2015. 100% FDI is permitted in this sector via—–. It shares — of the India’s GDP.
3.—–
Indian—- industry is expected to grow at 20% compound annual growth rate from 2015 to 2020.
100% FDI is permitted in this sector.
4. —–
100% FDI is allowed under—–
5. Railways
100% FDI is allowed under —– in most of areas of railway, other than the operations, like High speed train, railway electrification, passenger terminal, mass rapid transport systems etc.
There are two routes by which India gets FDI.
- ——-: By this route FDI is allowed without prior approval by Government or Reserve Bank of India.
- ——: Prior approval by government is needed via this route. The application needs to be made through——-, which will facilitate —– clearance of FDI application under Approval Route. The application will be forwarded to the respective ministries which will act on the application as per the standard operating procedure.—— which was the responsible agency to oversee this route was ——.
Following are some of major sectors where 100% Foreign Direct Investment is allowed.
1.Infrastructure
10% of India’s GDP is based on construction activity. 100% FDI under automatic route is permitted in construction sector for cities and townships
2.Automotive
FDI in automotive sector was increased by 89% between April 2014 to February 2015. 100% FDI is permitted in this sector via automatic route. Automobiles shares 7% of the India’s GDP.
3.Pharmaceuticals
Indian pharma industry is expected to grow at 20% compound annual growth rate from 2015 to 2020.
100% FDI is permitted in this sector.
4.Textile
100% FDI is allowed under automatic route.
5.Railways
100% FDI is allowed under automatic route in most of areas of railway, other than the operations, like High speed train, railway electrification, passenger terminal, mass rapid transport systems etc.
There are two routes by which India gets FDI.
- Automatic route: By this route FDI is allowed without prior approval by Government or Reserve Bank of India.
- Government route: Prior approval by government is needed via this route. The application needs to be made through Foreign Investment Facilitation Portal, which will facilitate single window clearance of FDI application under Approval Route. The application will be forwarded to the respective ministries which will act on the application as per the standard operating procedure. Foreign Investment Promotion Board (FIPB) which was the responsible agency to oversee this route was abolished.
— is a composite indicator to assess international trade logistics across states and Union territories. It is based on the —–. It has eight parameters such as —-. Developed by —-
LEADS- World Bank’s biannual Logistics Performance Index (LPI)- infrastructure, services, timeliness, track and trace, competitiveness of pricing, safety of cargo, operating environment and regulatory processes- Logistics Ease Across Different States (LEADS) index is developed by the commerce and industry ministry along with Deloitte.
NOTE-
Negotiable Warehousing Receipts (NWR):
1. Enables farmers to seek loans from banks against NWRs.
2. It allows farmers to avoid distress sale.
3. It encourages scientific warehousing of goods.
4. It helps to increase liquidity in rural areas.
NOTE- NWRs can enhance banks’ interest in lending in respect of farm goods deposited by farmers in the registered warehouses which can increase liquidity in the rural areas and encourage scientific warehousing of goods.
The —- Scheme is a programme launched by the —- to reduce energy consumption and promote enhanced energy efficiency among specific energy intensive industries in the country.
Perform, Achieve and Trade (PAT)- Bureau of Energy Efficiency (BEE)
A National Logistics Portal is being developed by the —- to ensure ease of trading in the international and domestic markets. It will link all the stakeholders of EXIM, domestic trade and movement and all trade activities on a single platform. Creation was mentioned in this —-.
- India’s logistics sector aims to — the logistics cost from the present 14% of GDP to less than — by —.
Ministry of Commerce and Industry-year’s budget speech-reduce-10% by 2022
Repo Rate, Liquidity adjustment Facility, Cash Reserve Ratio, Open Market Operations are tools of —–.
Monetary Policy
—- helps banks to quickly borrow money in case of any emergency or for adjusting in their —- requirements.
Under this, RBI auctions Government securities, starting at the — and — rate. Minimum bidding amount is —–.
It is a tool used by RBI to control —- liquidity / money supply in the market.
In this, money transaction is done via — money transfer method. It was first recomde by—- and fully implemented since —.
LAF- SLR/CRR- repo and reverse repo- Rs.5 crore-short-term- RTGS- Narsimhan Committee in 1998- 2000.
